News

Sales of Olainfarm Last Year Increased by at Least 4%

on January 16, 2018

Preliminary consolidated results of JSC Olainfarm for December 2017 show that sales have reached 10.08 million euros, which represents a reduction by 2% compared to December 2016. The biggest sales increase was achieved in Ukraine, where sales grew by 700%, and in Belarus, where sales increased by 329%. The biggest sales reduction was experienced in Kyrgyzstan, where sales shrunk by 36%, while sales to Kazakhstan shrunk by 32%. During December 2017, significant shipments were also made to Uzbekistan. Major sales markets of Olainfarm group during December 2017 were Russia, Latvia and Ukraine.

December 2017, consolidated sales

Sales, thsnd. EUR

Changes to December 2016

Share in total sales

Russia

4 471

-12%

44%

Latvia

2 682

-2%

27%

Ukraine

840

700%

8%

Belarus

307

329%

3%

Tajikistan

218

-15%

2%

Kazakhstan

193

-32%

2%

Uzbekistan

176

NA

2%

Lithuania

126

19%

1%

Georgia

124

-7%

1%

Kyrgyzstan

113

-36%

1%

Other

826

-39%

8%

Total

10 076

-2%

100%

Sales of pharmacy chain of Latvijas aptieka during December 2017 were 2 million euros, which represents an increase by 21% compared to sales this company made in December 2016. Sixty-nine pharmacies were operating during this period. Sales of Silvanols during December 2017 were 0.4 million euros, which represents a reduction by 18% compared to December 2016. During December, Silvanols sold its products to nine European countries and with the help of JSC Olainfarm also to Belarus, Russia, Azerbaijan and Kosovo. Sales of Tonus Elast during December 2017 were 0.8 million euros, which represents a reduction by 26% compared to December 2016. The sales were made to 21 countries in three continents.

According to preliminary numbers, consolidated sales of JSC Olainfarm in 2017 reached 114.04 million euros, which represents an increase by 4% compared to 2016. The biggest sales increases have been achieve in Germany, where sales grew by 103% and The Netherlands, where sales grew by 57%. Biggest sales reductions were experienced in Ukraine, Where sales shrunk by 21% and Uzbekistan, where sales shrunk by 15%. Major sales markets of Olainfarm group in 2017 were Russia, Latvia, Ukraine and Belarus. Companies of the group made sales to 61 countries in five continents.

Consolidated sales, 2017

Sales, Thsnd. EUR

Changes to 2016

Share in total sales

Russia

39 850

6%

35%

Latvia

28 492

7%

25%

Ukraine

10 936

-21%

10%

Belarus

8 939

21%

8%

The Netherlands

3 856

57%

3%

Kazakhstan

3 116

-2%

3%

Uzbekistan

1 869

-15%

2%

Germany

1 718

103%

2%

Lithuania

1 508

13%

1%

Poland

1 376

-5%

1%

Other

12 382

-5%

11%

Total

114 042

4%

100%

Sales of Latvijas aptieka in 2017 reached 21.6 million euros, which represents an increase by 16% compared to 2016. Sales of Silvanols in 2017 were 5.2 million euros, which represents a reduction by 3% compared to 2016, where sales of Silvanols were 5.4 million euros. Products of Silvanols were sold to twelve European countries and with the help of JSC Olainfarm also to Kazakhstan, Lithuania, Belarus, Russia, Armenia, Mongolia, Kosovo and Azerbaijan. Sales of Tonus Elast in 2017 were 8.5 million euros, and its products were sold to 38 countries in four continents.

According to preliminary unconsolidated data, sales of JSC Olainfarm in December 2017 were 8.08 million euros, which represents an increase by 4% compared to December 2016. The biggest sales increase was achieved in Ukraine, where sales grew by 625%. Sales to Belarus increased by 382%, while sales to Lithuania increased by 50%. The biggest sales reduction was experienced in Kazakhstan where sales shrunk by 54%. During December 2017, JSC Olainfarm also made significant shipments to Uzbekistan and Bulgaria. The biggest sales markets of JSC Olainfarm in December 2017 were Russia, Latvia and Ukraine. In total during this period, products of JSC Olainfarm were sold to 28 countries.

December 2017, unconsolidated sales

Sales, Thsnd. EUR

Changes to December 2016

Share in total sales

Russia

4 181

-11%

52%

Latvia

1 410

20%

17%

Ukraine

761

625%

9%

Belarus

245

382%

3%

Tajikistan

212

-13%

3%

Uzbekistan

176

NA

2%

Lithuania

120

50%

1%

Kazakhstan

112

-54%

1%

Bulgaria

104

NA

1%

Kyrgyzstan

99

-26%

1%

Other

655

-36%

8%

Total

8 075

4%

100%

According to preliminary unconsolidated results, sales of JSC Olainfarm in 2017 reached 91.97 million euros, which is comparable to the sales company made in 2016. The biggest sales increase in 2017 was achieved in Germany, where sales grew by 100%, while sales to The Netherlands increased by 57%. The biggest sales reduction was experienced in Ukraine, where sales shrunk by 28%. The major sales markets of JSC Olainfarm during this period were Russia, Latvia, Ukraine and Belarus. In total during 2017 products of JSC Olainfarm were sold to 51 countries in five continents.

2017, unconsolidated sales

Sales, thsnd. EUR

Changes to 2016

Share in total sales

Russia

36 471

1%

40%

Latvia

14 815

10%

16%

Ukraine

10 655

-28%

12%

Belarus

8 764

20%

10%

The Netherlands

3 856

57%

4%

Kazakhstan

2 094

-19%

2%

Uzbekistan

1 869

-15%

2%

Germany

1 670

100%

2%

Lithuania

1 281

16%

1%

Turkmenistan

1 246

17%

1%

Other

9 247

-8%

10%

Total

91 968

0%

100%

General meeting of shareholders of JSC Olainfarm held on June 1, 2017 approved operating plan of the company, providing that unconsolidated sales of the company in 2017 will reach 96 million euros, while consolidated sales of the company will reach 127 million euros. According to these preliminary sales numbers, in 2017 the company has met 96% of annual target for unconsolidated sales and 90% of annual target for consolidated sales.

JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with 45 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company’s operations is to produce reliable and effective top quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 50 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.